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Indian ONGC Set to Keep Stake in Russia’s Sakhalin-1 Oil Projec
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Why This Matters
ONGC is set to retain its 20% stake in the Sakhalin-1 oil project in Russia, as the Kremlin has permitted the company to pay its abandonment fund contributions in rubles using frozen dividends. This decision reflects a strategic move by ONGC to maintain its investment amidst geopolitical tensions.
Market Impact
Market impact analysis based on bullish sentiment with 74% confidence.
Sentiment
Bullish
AI Confidence
74%
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
India’s Oil and Natural Gas Corporation Limited (ONGC) is moving to keep its 20% stake in the Sakhalin-1 oil project in Russia after the Kremlin allowed the Indian state-run company to pay its contribution to the project’s abandonment fund in rubles from the frozen dividends it is due, sources with knowledge of the plans told Reuters on Friday. ONGC Videsh, the overseas unit of Oil and Natural Gas Corporation Limited (ONGC), has a 20% interest in the project, but contribution to the abandonment fund, one used for decommissioning…
Original article published by
OilPrice.com
on December 5, 2025.
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